Welcome to Shopify Finance: Unified financial tools you need to grow

Entrepreneurs build and innovate at warp speed, but traditional banks haven’t kept up. In 2024, banks tightened lending requirements for small businesses—with some increasing the cost of borrowing. And 40% of entrepreneurs cite financial risk as a barrier for starting a business.*

Needlessly complicated finances should not overshadow the dream of running a business. Entrepreneurs deserve better.

So today we’re introducing Shopify Finance, a unified home for all our financial solutions built straight into the Shopify admin.

Practices like rigid repayment terms, credit history requirements, or months-long loan approvals have stifled innovation for too long. That’s why, for years, we’ve enabled entrepreneurship with powerful financial offerings so merchants don’t have to depend on lengthy, opaque, and complex processes from traditional banks to keep their business running. 

Now, merchants can seamlessly access Shopify Balance, Shopify Credit, Shopify Capital, Shopify Bill Pay, and Shopify Tax in one place. Just in time for Black Friday, Cyber Monday, Shopify Finance helps merchants focus on growth by reducing the complexity and administrative burden of managing multiple financial tools with:

• A unified finance home: View and manage all business finances from one comprehensive dashboard in the admin.
• Quicker access to funds: With tools like Shopify Capital, Shopify Credit and Shopify Balance, merchants gain faster access to their funds and the funding they need.
• Automatic rewards: Merchants earn APY rewards on money in their Balance accounts, as well as cash back rewards on their Shopify Credit and Shopify Balance cards. 
• Flexible repayment terms: Merchants can repay Shopify Capital and Shopify Credit balances from a percentage of daily sales. No repayment on slow days with no sales.
• Simplified tax compliance: Easily manage sales tax obligations to comply with state, county, local regulations in one place.

“We wouldn’t be on our way to $10M in revenue, if not for Shopify Finance. After working with multiple financial vendors in the past, it makes a lot more sense to run our business on one platform.” Jake Chambers, Co-founder of Pupsentials

More funding flexibility

Shopify Capital offers eligible merchants access for up to $2 million in fast funding, regardless of size and financial maturity— with no credit checks or impact on personal credit score. Now, we’re rolling out monthly-cost loan structures in early access. This means lower overall costs the faster merchants repay. This new pricing structure gives merchants more choice and flexibility unique to their businesses.

Shopify Credit, a pay-in-full Visa® business card, gives merchants up to 3% cashback on eligible marketing, wholesale, and fulfillment purchases.** Now merchants get up to 10 months to pay by choosing to either pay the full statement balance within 1 month, or pay over time from a percentage of daily sales.

Make your money work harder 

Shopify Balance, a free business account that allows merchants to get paid as soon as the next business day, now comes with a 3.39% APY reward on every dollar in a balance account. Merchants on the Shopify Plus plan now have access to a 4.43% APY reward, higher ACH limits, and default next-business-day payouts. 

More streamlined finances 

With Shopify Tax, eligible merchants can now automate the filing and remittance of their sales tax returns, helping them streamline their compliance workload. Plus, to help save funds for tax obligations, Shopify Tax automatically sets aside sales tax into Balance accounts.

Shopify Bill Pay gives merchants the ability to pay business bills how they want—by credit card, debit card, bank transfer, or Shopify Balance— whether or not a vendor accepts that form of payment. Now, merchants can make batch and recurring payments to save time, and combine payments to save on transaction fees, directly within the Shopify Finance home of the admin.

“They want to see us grow.”

Shopify Finance is our latest move in making merchants’ lives easier and removing barriers to entrepreneurship. Now, business finances can be more streamlined, less daunting, and more aligned with the way entrepreneurs need to operate. Shopify Finance was built not just to meet the needs our merchants have today, but to help them scale for years to come.

Says Qiana Allen, the founder of Culture’s Closet, “Shopify believes in the merchants they support. They want to see us grow.”

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*Results for the Shopify-Gallup Entrepreneurship study are based on responses from a survey of 46,993 U.S. adults (18+ years old) conducted online May 1-14, 2024. All participants are members of Gallup’s probability-based, nationally representative panel.

**"Cashback" refers to rewards earned as a percentage discount on eligible purchases. Earn 3% cash back as a statement credit on up to US$100,000 of annual eligible purchases in your monthly top spend category—either marketing, fulfillment, or wholesale, and 1% cashback thereafter. Earn 1% cashback on the other two spend categories. Restrictions apply. See Rewards Program Terms for details.

Shopify is a tech company, not a bank. Shopify partners with Stripe Payments Company for money transmission and account services with funds held at Evolve Bank & Trust and Fifth Third Bank, Members FDIC. Shopify Credit and Shopify Balance Visa® Commercial Credit cards are powered by Stripe and issued by Celtic Bank pursuant to a license from Visa U.S.A. Inc. All funding through Shopify Capital in the U.S. is issued by WebBank.